Minimum Pension Sample Clauses

Minimum Pension. Subject to approval by Pension Commission of Ontario and Revenue Canada the Boise Cascade Canada Pension Plan for Ontario Hourly Employees will be amended so as to provide: Effective May the minimum pension provided under the Plan shall be effective until the later of April or the date the applicable Labour Agreement covering the period May through April is terminated under the provision thereof: of the employee's average base earnings during the five years prior to May for which his earnings were highest years of credited service prior to retirement, 1/35 of the benefits in effect in the calendar year of retirement times years of credited service between January and date of retirement. Earnings for purposes of this calculation shall be the employee's classified rate of pay as of May times his number of hours normally scheduled during the following months. The number of hours shall be for employees who work hours per week, for employees who work an average of hours per week and for employees who work hours per week. In the event that an employee’s earnings in any of the five 12-month periods immediately preceding retirement do not reflect a normal annual schedule of hours for that period for reasons other than a leave of absence, the employee’s earnings for that period will be adjusted to reflect his normal annual schedule of hours, provided the employee has been actively at work for at least three months during that 12-month period.
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Minimum Pension. Subject to approval by Pension Commission of Ontario and Revenue Canada the Abitibi-Consolidated Company of Canada Pension Plan for Ontario Hourly Employees will be amended so as to provide: Effective May 1, 2004, the minimum pension provided under the Plan shall be effective until the later of April 30, 2014 or the date the applicable Labour Agreement covering the period May 1, 2004, through April 30, 2014, is terminated under the provision thereof:
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Minimum Pension. An employee who retires after January 31, 1983 at age 65 and who has 15 years of seniority shall be entitled to a minimum monthly pension payable during his lifetime equal to $20.00 times years of service with the current Company and a Selling Company, as defined in Schedule “D” of the Collective Agreement to a maximum of thirty (30) years made up of pension from the current company plan, the prior company plan and a special supplement from the current Company. For the purpose of determining the minimum pension, years for which the employee has received a refund of his own contributions to the pension plan of a Selling Company as defined in Schedule “D” of the Collective Agreement shall be credited at half the normal rate. This provision shall not apply to those employees who elect not to join the pension plan of their current Company.
Sample 1
Minimum Pension. Subject to approval by Pension Commission of Ontario and Revenue Canada the Boise Cascade Canada Pension Plan for Ontario Hourly Employees will be amended so as to provide: Effective May the minimum pension provided Plan shall be effective until the later of April or the date the applicable Labour Agreement covering the period May through April is terminated under the provision thereof: of the employee's average base earnings during the five years prior to May I, for which his earnings were highest years of credited service prior to retirement, of the benefits in effect inthe calendar year of retirementtimes years of credited service betweenJanuary and date of retirement.
Sample 1
Minimum Pension. Subject to approval by Pension Commission of Ontario and Revenue Canada the Company of Canada Pension Plan for Ontario Hourly Employees will be amended so as to provide: Effective May the minimum pension provided under the Plan shall be effective until the later of April or the date the applicable Labour Agreement covering the period May through April is terminated under the provision thereof: of the employee's average base earnings during the five years prior to May for which his earnings were highest years of credited service prior to retirement. Effective May the Pension Plan will be amended so that for an active member retiring on or after May the minimum pension will be calculated as follows: of final average earnings as defined in the Pension Plan multiplied by the number of years of service recognized under the Plan. Effective May the Pension Plan will be amended so that for an active member retiring on or after May the minimum pension formula will be calculated based on of final average earnings as defined in the Pension Plan multiplied by the number of years of service recognized under the Plan. Earnings for purposes of this calculation shall be the employee's classified rate of pay as of May times his of hours normally scheduled during the following months. The number of hours shall be for employees who work hours per week, for employees who work an average of hours per week and for employees who work hours per week. In the event that an employee's earnings in any of the five 12-month periods immediately preceding retirement do not reflect a normal annual schedule of hours for that period for reasons other than a leave of absence, the employee's earningsfor that period will be adjusted to reflect his normal annual schedule of hours, provided the employee has been actively at work for at least three months during that month period.
Sample 1
Minimum Pension. 22.2.1. The minimum pension for widows shall be Two Hundred and Fifty Dollars ($250.00), effective July 1, 1987.
Sample 1

Related to Minimum Pension

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Benefit Waiting Period Allowance (a) An employee who qualifies for and takes leave pursuant to 21.1 or 21.2 and is required by Employment Insurance to serve a one-week waiting period for Employment Insurance Maternity/Parental benefits, shall be paid a leave allowance equivalent to one week at 85% of the employee's basic pay.

  • Retirement Pay Any teacher with ten (10) years consecutive teaching experience in the Park Hill School District immediately prior to retirement from PSRS without an age reduction for early retirement, shall receive upon retirement from the Park Hill School District a terminal amount based upon the following formula: (Notation, the teacher must make application to PSRS for retirement and begin drawing from PSRS on the first available month following retirement). Years of service to the Park Hill School District to be divided by ten (10) and multiplied by one-ninth (1/9) of the last completed contract. Retirement notification after December 15 for the current academic year will result in a reduction of $1,000.00 from the total under Article 36. In the event of a sudden severe illness of the teacher, teacher’s legally recognized spouse, and/or child, the transfer of a legally recognized spouse, or being called into active military duty may be cause for the District not to impose the late notification reduction of $1,000.00. A teacher who otherwise qualifies for payment under Article 36 and dies while currently classified as an active employee will receive such payment.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Benefit Period Following the Qualifying Period you will receive a monthly income until the earlier of:

  • Starting Salary All bargaining-unit positions will be hired at a starting salary commensurate with their experience. It is expected that those salaries will typically be within 20% of employees within that unit at a similar rank and/or experience level. In exceptional cases, bargaining-unit positions may be hired at a salary above that range contingent on extraordinary experience and extramural funding.

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